What is Influencer Marketing, Benefits, Types of Influencers, and Measuring
When it comes to achieving long-term results, influencer marketing has huge potential. However, success can only be achieved with a conscious approach.Opinion leaders should be a mandatory part of your marketing strategy. But how do identify them? Find out in this article.
What is Influencer Marketing
Influencer marketing is a cross between old and new marketing tools based on celebrity endorsements of a product or service. What's different is that the campaign results in a collaboration between brands and influencers.
The audience of some Instagram stars or bloggers on popular YouTube channels is comparable to the audience of major media. The demand for advertising continues to grow. A one-time collaboration can develop into a permanent representation of the brand.
The advertising message does not interrupt the content we want or distract us with an annoying banner- but is neatly embedded in the information we are interested in. This is how native advertising works, just one example of influencer marketing.
Questions to Ask Before Collaborating
Working with an influencer can either take your brand to a new target market or result in you wasting your advertising budget. To guard against the latter, conduct short interviews with potential influencers you intend to partner with.
How it Works with Bloggers,
Preparation: collecting a database of bloggers
Based on historical data and subscriber KPIs, AIR calculates the number of bloggers to contact and then plans the number of posts per month.
Pay attention to the following data:
Only 25% of bloggers will respond to our message;
Only 50% of them will be willing to advertise;
Only 50% of them will send statistics;
Only 41% of them will agree with the proposed price.
It is important to check the accuracy of blogger statistics and negotiate a discount if the requested advertising cost does not suit us. AIR Media-Tech is a great service and ecosystem of talented and trusted creators.
Follower Matching and Ad Placement Conversion:
Medium bloggers (from 100 to 500 thousand subscribers). Conversion - 5%;
Large bloggers (from 500 thousand subscribers and more). Conversion - 15%.
Step 1. Choosing bloggers.
The first thing we do is check if the bloggers are following our requirements. Also, pay attention to the platform on which the blogger posts. For example, if your product is aimed at a younger audience, then TikTok would be the best option.
Check the content of their profile for relevance
Topics: business, marketing, promotion, training;
Moral and ethical account design;
View not only messages-, but also stories.
Step 2. Request statistics.
Write a request in private messages, in the blogger's PR account-, or by mail.
If the blogger agrees to accept the ad, we request his account statistics. The statistics must be fresh, on placements for the last week or month.
It is important to remember that bloggers can manipulate statistics. To avoid being fooled by your creative work in Photoshop, it's best to request a video with a screenshot of the stats rather than a screenshot.
Enter all data into an impromptu CRM system:
Country of Residence;
Audience age;
Average coverage of stories;
Coverage of recent posts.
Step 3. Predict the results of future publications
If an influencer has statistics on previous posts, we calculate their personal post-conversion rate.
If not, we take the value calculated from the results of our past placements, using the beta distribution according to the PERT method.
Step 4: Plan your placement
After the customer has approved the candidates, we move on to placement planning.
We send the blogger the TOR (in the form of a presentation) and examples of past publications with good results. We then agree on a placement date.
Ask the influencer for a rewritten text of our proposal in a style familiar to his audience.
We all agree with the text.
The blogger prepares creatives as part of the visual representation of his account and submits them for approval.
Step 5: Analysis of Placement Statistics
We enter data into the CRM system and analyze the placement.
How to track performance
To properly track the performance of your marketing campaign, you first need to define your goals. To increase brand awareness or audience trust, get a certain volume of sales and conversions or attract a new audience.
Based on specific goals, strategize, write a brief, and select the right influencers. Using automated influencer marketing platforms makes things a lot easier.
Measuring ROI (return on investment)
Sales, the growth of subscribers on the official pages of the brand -, and clicks to the site will show the final profitability of the campaign.
To understand exactly how many conversions a particular post has brought, use UTM tags. To clearly track sales related to collaboration with an influencer, come up with a unique promo code that the influencer presents in the promotional post. Using a promo code is often beneficial for users, so be prepared to provide some kind of bonus (such as a discount, a gift, etc.) with it.
Conclusion
Analyzing the return on investment, we can conclude that the advertising campaign was not particularly successful. But influencer marketing doesn't just work directly. It is important to consider that cooperation with influencers increases overall brand awareness, and audience loyalty, increases the subscriber base for official accounts, etc.
Also, do not forget about potential customers who go to the site after publication.
Brian Jarvis is a digital marketing specialist with over 10 years of experience. He is a member of the Content Marketing Institute and is regularly cited as an expert in the major media.
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